The IRS said Friday that it is providing relief from certain penalties imposed solely for failure of a partnership with unrealized receivables or inventory items to furnish Part IV of Form 8308, ...

Many practitioners who counsel business clients, both small and large, are familiar with the difficult challenges that quickly arise when taxes are withheld from employee wages but not turned over to ...

The Supreme Court held that a corporation’s stock redemption obligation was not a liability that reduced the corporation’s value for estate tax purposes. The IRS issued guidance for recipients of ...

Taxpayers whose overall tax position in a given year would benefit from accelerating gross income or from converting current deductions into capital expenditures should consider the elective ...

The IRS announces new Form 990-EZ with help icons to assist organizations with accurate filing . Seventh Circuit Holds That Taxpayer Filed Timely Tax Court Petition The Seventh Circuit Court of ...

The Tax Adviser is a monthly publication of the American Institute of CPAs, providing tax practitioners with timely, in-depth, practical, and comprehensive information on federal and state tax ...

To get through the rigors of tax season, CPAs depend on their tax preparation software. Here's how they rate the leading professional products.

A corporation’s built-in gains (BIG) tax cost of disposing of assets in liquidation within five years after its S election can be substantial. U.S. persons owning an interest in a foreign partnership ...

Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.

The IRS announced a change in its policy on automatic accounting method changes in corporate reorganizations. The IRS published final regulations relating to how an entity serving targeted populations ...